Individual & Business Tax Planning, Advisory and Filing
MFS’s Tailored Tax Solutions for Individuals and Businesses Features Expert Planning and Hassle-Free Filing:
Entity Structure Optimization
Advise on LLC, S-Corp, or C-Corp structures for tax efficiency and liability protection
Assist with entity formation or restructuring to optimize tax outcomes
Income Tax Compliance
Prepare and file federal, state, and local tax returns accurately and on time
Identify deductions and credits for maritime businesses to reduce tax liability
Estimated Tax Payments
Calculate and manage quarterly payments to avoid penalties
Provide cash flow planning to ensure timely tax payments
Expense Tracking and Deduction Maximization
Guide proper tracking and documentation of expenses
Apply industry-specific deductions for travel, equipment, and professional fees
Depreciation Strategies
Maximize depreciation for yachts and equipment in compliance with IRS regulations
Payroll Tax Compliance
Set up and manage payroll tax reporting, withholding, and remittance
Advise on employee vs. contractor tax implications for crew hiring
Self-Employment Taxes & International Business Operations
Offer tax strategies for sole proprietors and independent contractors
Ensure compliance with FATCA, foreign income reporting, and tax credit management
Sales and Use Tax Compliance
Ensure compliance with state and local sales and use tax for yacht sales, charters, and services
Retirement Planning and Contributions
Advise on SEP IRAs, SIMPLE IRAs, and solo 401(k)s to maximize tax-deferred savings
Assist with contribution planning for optimal tax benefits
Audit Support and Representation
Provide audit preparation, documentation, and representation to resolve IRS issues
Tax Planning and Advisory Services
Offer ongoing tax strategy for business expansion, capital investments, and financial decisions
Succession Planning and Exit Strategies
Advise on ownership transfers or business exits, minimizing tax impacts for a smooth transition.
McGregor Financial Services (MFS) provides specialized tax preparation and advisory services tailored to the unique needs of marine small and medium-sized businesses (SMBs). Our comprehensive approach ensures tax compliance, optimizes strategies, and enhances financial efficiency for yacht-related businesses.
We begin by advising clients on Entity Structure Optimization , selecting the most tax-efficient structure—such as LLC, S-Corp, or C-Corp—to minimize tax liabilities and protect assets. Our Income Tax Compliance services ensure timely and accurate filing of federal, state, and local tax returns, identifying applicable deductions and credits specific to maritime activities. We guide businesses through Estimated Tax Payments , assisting with calculations and cash flow planning to avoid penalties.
MFS places a strong emphasis on Expense Tracking and Deduction Maximization , ensuring proper documentation and applying industry-specific deductions. Our Depreciation Strategies help clients maximize benefits for yachts and equipment while complying with IRS guidelines. We also manage Payroll Tax Compliance, advising on tax implications for crew members and assisting with tax withholding, reporting, and remittance.
For self-employed individuals, we provide strategies to reduce Self-Employment Taxes and advise on International Business Operations, ensuring compliance with FATCA and foreign income reporting to avoid double taxation. MFS ensures Sales and Use Tax Compliance for yacht sales, charters, and related services, aligning with state and local requirements.
We guide business owners through Retirement Planning and Contributions, recommending tax-efficient retirement plans such as SEP IRAs or solo 401(k)s to maximize savings. In the event of an audit, MFS offers Audit Support and Representation, ensuring thorough preparation and resolution.
Our Tax Planning and Advisory Services provide ongoing strategic insights on business growth, capital investments, and tax-efficient decision-making. Additionally, we assist with Succession Planning and Exit Strategies, helping business owners navigate the tax implications of ownership transfers or exits for a smooth transition.
